About Us
About Us
Since the formation of Legacy Capital Group California, we have striven to help change the way financial planning is conducted to help clients focus on what is really important: the creation of a plan that fits their lifestyle and goals.
Legacy Capital Group is a wealth advisory firm located in Los Gatos, CA. As professionals in understanding the needs of high-net-worth individuals, small business owners, and emerging wealth professionals, we look forward to offering our guidance and experience to anyone wishing to achieve their financial goals.
Our Process
In the business of managing one’s personal finances, we view our client as the CEO, and ourselves as the CFO.
We are applying for the job of CFO of your “financial” business.
We are responsible for providing you with financial recommendations and explaining the potential impact of each action. Because it is difficult, if not impossible, to make a long-term hiring decision of this nature without seeing your prospective CFO in action, we have structured an evaluation period designed to allow you the opportunity to determine if you feel comfortable with our skills and working style while also allowing us to become comfortable with you – this process generally takes 3-4 meetings. The objective is to create a well thought out strategic business plan along with a set of recommendations as to how to tactically implement the plan.
You are the CEO.
You are responsible for overseeing their personal “financial” business. You are charged a flat-fee to engage us in this evaluation of your finances. Upon completion of your custom financial plan, you decide if you want to take the plan and implement it on your own, or conclude that we have proven we are a competent CFO and you have gained a trusted advisor with whom you want to have an ongoing relationship. Being selected as your CFO is an honor and we are privileged to have the opportunity to develop a personal and professional relationship that will span your lifetime.
Set-up or structure your financial life as you would a business, because that is what you are with the wealth you have.
- You, as the CEO and Chairman of the Board, explain your vision and goals.
- Legacy Capital Group California, as the CFO, will provide you with strategies to help you realize these goals.
The first step of the process is strategic in nature. The focus is geared toward an ideal future, not how to get there. The obtainability of these goals will be determined in subsequent meetings.
It is our job to help you create a blueprint for your “financial” business. We do this by asking you a number of questions and requesting data from you that is specific to your business.
The first step is to quantify your current position by summarizing your assets and liabilities in a usable format. Once this is provided, we begin to make some baseline assumptions based on your stated goals and initial feedback. Questions we would ask might include:
- What are your aspirations?
- Do you have any expansion plans and major expenditures (i.e. children, vacation home)?
- How long do you want to let your asset base grow and when will you need it to support you?
- What are your lifestyle requirements now and in the future?
- What are your revenue streams now and in the future?
- How will you handle unforeseeable threats to your financial well-being?
- Disability.
- Death.
- Loss of employment.
- How much risk are you taking with your working capital relative to your goals?
- Are you implementing cost cutting measures?
- Reduction in borrowing costs.
- Taxes.
- Planning efficiencies.
As CEO, you have now done the majority of your work by gathering data for us and articulating your plans for your “business”. It is now time for us, the CFO, to go to work crunching the numbers in order to put data, wishes and dreams in a form that will allow you to decide how best to proceed.
- Analysis of various scenarios (what you think you want to happen and the direction).
- Ramifications of the different potential decisions so you know where the problem spots may lie. For example:
- Can I quit work at age 55 if I buy a dream vacation home?
- What happens if my capital earns 6% instead of 8%?
- Feedback as to what appears to be your best course of action.
You, the CEO, and Legacy Capital Group California, the CFO, come to an understanding as to what you want to have happen with your “business” based on your data and our analysis of that data. We now make tactical suggestions as to the best way to deploy your capital and structure resources in order to fulfill the objectives of your business plan. This Working Business Plan will act as the cornerstone of your financial future.
What are the tactical decisions that need to be made in order to allow you to begin moving towards the fulfillment of your business plan goals?
Some things to think about:
- What are my expectations for my working capital?
- What risks should I be taking to meet my goals, if any?
- Is my current capital structure in line with my new business plan?
- Do I have working contingency plans in place for my business in the event of death or disability?
- What should I do if I want my kids to get my business, assets etc.?
The business plan quantifies issues such as those described above. Implementation is the tactical application of capital and resources in a manner consistent with the business plan objectives.
How are you going to monitor the progress of your “business” over time?
- What kinds of benchmarks or measuring tools should you use to determine if your business is operating at an optimal level?
- How often will you evaluate your progress or lack thereof?
- How will you know to make changes if a part of your business is not performing, and what changes would you make?
Benchmarking, forecasting, revising the forecast and evaluating capital expenditures are all CFO functions. Your job as the CEO is to review the analyses and recommendations, decide on the course and solicit our feedback if you want it. It is in this way that you can stay on top of your most important business – you!